Unfortunately it sounds like the convergence amps have failed - either that or they have developed ring-cracks where they're soldered to the foil side of the pc board and moving the set broke loose some of the contacts.. Only way to know for sure would be to remove the signal board and inspect them.. Not a job for the less than qualified... Even techs find themselves confused for not labeling the output connectors to the crts properly..
Your set takes two STK392-120 Sanyo built Ics and upon replacing them it's a good idea to also replace R3159 & R3160 both 6.8 Ohm 1w resistors.
Hope this helps.
Bill

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Thats caused by failed convergence ICs and the 6.8 ohm resistors. You can get the repair kit called the DPTV305 -DPTV345 & MAG01 chassis convergence repair kit which fits your model. The kit has the components and the CD with repair instructions and its available at the following link top of the page. http://tvrepairworld.com/phillips__magnavox_repair_kits

Convergence is dead.Know how to solders? Must replaced the 2 convergence ICS and all it resistors.Tries Tv repair World.com,Tvrepairkit.com to buy a convergence kit to repair it ur self.The shop will $300 for the parts and labors.

It sounds as thought the lower light strip has malfunctioned & blown the red/blue LED lights leaving only the green bulb functioning, I would ring the makers repair team for a repair if it's under warrentee or a repair quote, if warrentee has expired, from my personal experience showed me that a new TV is cheaper. I hope this helps.....